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NMR Price Prediction: Is Numerai a Good Buy as it Goes Parabolic?

The NMR coin price surged on Thursday even as other cryptocurrencies recoiled. Numerai rose to a high of $40, which was the highest point since December last year. It has risen by more than 267% from its lowest level this year. This rebound brings its total market cap to more than $163 million.

What is Numerai and why is it rising?

Numerai is a project that is in the data science space. The platform allows developers to build machine learning models that help to predict the performance of the stock market. These models can then be staked with the NMR cryptocurrency to earn rewards based on performance. 

Developers in the competition receive a free dataset that is made up of high-quality data that has been cleaned and regularized. Winners also earn rewards. By March this year, the developers had paid out over $40 million to its members. 

Numerai, is therefore not a blockchain project like Solana and Ethereum. It is a tournament that is bridging the gap between the stock and crypto market. To participate, members of the tournament are required to buy NMR and stake it. In all, the developers hope to create the next successful hedge fund like Ken Griffin’s Citadel Securities. 

The NMR price is rising after the developers announced that they were making progress on 1 million stoked NMR tokens. At the current price, these tokens are valued at over $30 million. It is also rising because of the ongoing pump and dump that is happening in small-cap cryptocurrencies.

NMR price prediction

The Numerai price has been in a strong bullish trend in the past few days as the number of staked token jumps. It soared to a high of $40, which was the highest point since December. As a result, the token managed to move above the important resistance level at $18.95, which was the lowest level in January this year.

The NMR token has jumped above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has soared to the overbought level. Therefore, there is a likelihood that the coin will likely drop to the key support at $18.95. 

The post NMR Price Prediction: Is Numerai a Good Buy as it Goes Parabolic? appeared first on CoinJournal.

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Shiba Inu lost its recent gains: will it recover and surge higher soon?

The cryptocurrency market continues its poor performance this week, with the major coins recording huge losses.

The cryptocurrency market has lost more than $50 billion over the past 24 hours. The total crypto market cap stood above $900 billion yesterday, but it has now dropped towards the $850 billion mark.

Bitcoin, the world’s leading coin, has lost more than 5% of its value in the last 24 hours and now trades below $19k per coin. BTC could drop towards $17k in the near term if the current market momentum persists.

Ether looks set to drop below $1,000 as it has lost roughly 10% of its value so far today. 

SHIB, the native token of the Shiba Inu ecosystem, is also underperforming at the moment. SHIB is down by more than 2% in the last 24 hours, which is lower than what the other major currencies recorded.

The poor performance comes after Shiba Inu performed positively earlier this week. Earlier this week, the Shiba Inu community voted on a proposal that seeks to reward network validators in BONE for their work. BONE is one of the tokens used within the Shiba Inu ecosystem. 

The proposal received 97% support from the community, leading SHIB to perform well. However, SHIB has shed these gains and is now underperforming.

Key levels to watch

The SHIB/USD 4-hour chart has turned bearish as Shiba Inu has erased its earlier gains. 

The MACD line dropped into the negative zone a few hours ago, indicating bearish momentum. The 14-day relative strength index of 38 shows that SHIB could soon enter the oversold region.

At press time, SHIB is trading at $0.00000982. If the bearish trend continues, SHIB could drop below the $0.00000886 support level. In the event of extended bearish performance, Shiba Inu would be forced to defend the support level around $0.00000778. 

The post Shiba Inu lost its recent gains: will it recover and surge higher soon? appeared first on CoinJournal.

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Axie Infinity to enter Phase 2 today after its Origin patch

Axie Infinity is set to enter a crucial phase in its development after months of delay.

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The Axie Infinity team announced on Thursday that it is preparing to enter Phase 2 in a matter of hours.

The team revealed that it would deploy a large patch for its Origin game over the next few hours. The patch will officially put the project in Phase 2, signifying the launch of its Ronin sidechain. However, Axie Infinity said that the game will be down until the maintenance is complete. 

Phase 2 signifies the launch of Axie Infinity’s Ronin Chain. The Ronin sidechain was originally scheduled to go live in April but faced certain difficulties.

The Ronin Bridge suffered a $625 million exploit in March 2022. At the time, the attackers stole 173,600 ether (ETH) and 25.5 million in USDC from the sidechain.

However, Sky Mavis, the development team behind Axie Infinity and the Ronin Bridge, took certain measures such as reducing token emissions, to prevent the collapse of the Axie Infinity ecosystem.

The Axie Infinity team reopened the bridge earlier this week. At the time, Axie Infinity said the bridge was restarted after an internal audit and external audits by blockchain security firms Verichains and Certik. 

Axie Infinity assured its community that ll user funds are fully backed on a 1:1 basis by the new bridge. 

The new Ronin Bridge design includes a circuit-breaker system, which serves as a contingency plan to boost the security of the bridge. The circuit-breaker system is designed to halt large suspicious withdrawals, developers said.

Bridges have become quite popular within the cryptocurrency ecosystem. They are protocols that allow the exchange of data, cryptocurrency or assets like NFTs from one blockchain to another.

With the Ronin Bridge, Axie Infinity users can transfer funds and other assets between the Ethereum and the Ronin blockchains. 

AXS, the native token of the Axie Infinity has been underperforming since the start of the week. AXS is down by more than 13% in the last 24 hours and currently trades at $13.20 per coin.

The post Axie Infinity to enter Phase 2 today after its Origin patch appeared first on CoinJournal.

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TerraClassicUSD (USTC) gains 523% in a week: here’s where to buy USTC coin

The TerraClassicUSD (USTC), formerly the TerraUSD (UST), was the origin of the current crypto plunge after it de-pegged leading to the crash of the Terra LUNA coin that once traded above $80.

After the events that unfolded, investors seemed to lose taste in the once-popular stablecoin. But following a 523.5% price surge over the past week, investors have once again started accumulating the stablecoin with the hope that it shall get back to its dollar parity of $1.

To help investors and traders who want to buy TerraClassicUSD (USTC), Coinjournal has created a brief article to help with identifying the best places to buy stablecoin.

To find out more, please continue reading.

Best places to buy TerraClassicUSD (USTC)

What is TerraClassicUSD (USTC)?

TerraClassicUSD (USTC) is formerly the TerraUSD (UST) stablecoin. It was renamed after the Terra fork resulting in the Terra Classic chain and the Terra 2.0 chain.

The Terra fork resulted from the de-pegging of the UST stablecoin from its dollar peg and the USTC seems to be now trying to get back to the dollar parity.

The USTC stablecoin operates on the Terra Classic chain.

Should I buy the USTC today?

If you want to invest in a stablecoin that de-pegged from its dollar parity but has shown signs of regaining the parity, then the USTC could be a good choice.

Nevertheless, you should be aware of the fact that buying the cryptocurrency market is extremely volatile, especially now when the crypto market prices have been dropping considerably.

USTC price prediction

Going by the current bullish trend, USTC is expected to make considerable price movements as it tries to regain its $1 parity. Investors are optimistic that it will eventually get back to $1.

$USTC social media coverage

 

 

 

The post TerraClassicUSD (USTC) gains 523% in a week: here’s where to buy USTC coin appeared first on CoinJournal.